Shiprocket Files Rs 2,342 Crore IPO with 15% YoY Revenue Growth
TL;DR
Shiprocket files a Rs 2,342 crore IPO with Rs 1,100 crore fresh capital, reporting Rs 943 crore revenue and a Rs 38 crore loss. The company targets D2C brands and plans to use funds for marketing and tech upgrades.
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Shiprocket, a logistics firm, has filed a draft red herring prospectus for a Rs 2,342 crore IPO. The company plans to raise Rs 1,100 crore in fresh capital and has an OFS component with investors, including Tribe Capital and Arvind Ltd, selling shares. Shiprocket reported operating revenue of Rs 943 crore for the six months ended September and a net loss of Rs 38 crore. The company offers a suite of services to D2C brands and small businesses to help them sell online across various channels. Shiprocket has a net revenue retention of 103.51% and aims to use the IPO proceeds to fund marketing initiatives and invest in technology infrastructure.
